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Fantasy Sports Market size is set to grow by USD 9.72 billion from 2024-2028, Launch of various apps for fantasy sports boost the market, Technavio

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NEW YORK, July 19, 2024 /PRNewswire/ — The global fantasy sports market size is estimated to grow by USD 9.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.05%  during the forecast period. Launch of various apps for fantasy sports is driving market growth, with a trend towards use of fantasy sports for brand promotion. However, uncertain future of fantasy sports and ill effects of gaming on health  poses a challenge. Key market players include APKMozo.com, Blitz Studios Inc., Dream Sports, FantasyPros.com, Fantrax, Flutter Entertainment Plc, Fox Corp., GamesKraft Technologies Pvt. Ltd., GDC Media Ltd., Head Digital Works Pvt. Ltd., i3 Interactive Inc., MyTeam11, NFL Enterprises LLC, Paramount Global, Playerzpot Media Pvt Ltd, Premier League Ltd., RealTime Fantasy Sports Inc., Sachar Gaming Pvt. Ltd., Sorare, and Yahoo.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Fantasy Sports Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.05%

Market growth 2024-2028

USD 9.72 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.76

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key countries

US, Canada, Mexico, China, and UK

Key companies profiled

APKMozo.com, Blitz Studios Inc., Dream Sports, FantasyPros.com, Fantrax, Flutter Entertainment Plc, Fox Corp., GamesKraft Technologies Pvt. Ltd., GDC Media Ltd., Head Digital Works Pvt. Ltd., i3 Interactive Inc., MyTeam11, NFL Enterprises LLC, Paramount Global, Playerzpot Media Pvt Ltd, Premier League Ltd., RealTime Fantasy Sports Inc., Sachar Gaming Pvt. Ltd., Sorare, and Yahoo

 

Market Driver

Many prominent brands have adopted fantasy sports as a marketing strategy. Unilever’s Dove Men+Care launched a fantasy football hub, offering exclusive football advice from ESPN analysts to consumers. Toyota sponsors Yahoo fantasy football league recaps, while Hilton provides free-entry fantasy racing contests for hotel honors club members. Brands target high-income customers aged 25 to 50 through this platform. This trend is anticipated to persist, contributing significantly to the expansion of the global fantasy sports market in the coming years. 

The Fantasy Sports Market is experiencing significant growth, with popular sports leagues and tournaments like the NFL, Premier League, IPL, and more driving fan engagement. Fantasy sports platforms are thriving in the online gaming sector, thanks to high-speed internet and mobile applications. Football, baseball, basketball, hockey, cricket, and other sports are all represented in this industry. User interfaces and social interaction are key features, with daily fantasy contests, virtual trading, and gameplay at the heart of the experience. The market is also exploring trends like eSports, virtual reality (VR), and augmented reality (AR). Secure payment methods are essential for fantasy sports platforms, with blockchain-based apps and one-time payments becoming increasingly popular. Freemium models, in-app purchases, advertising, and premium subscriptions are common revenue streams. However, the industry faces challenges, including illegal sports betting and online gambling. NFT-based games, like Reignmakers and Fantasy Football, are emerging trends in this space. Sports like soccer, FIFA, badminton, and football (rugby) are also gaining traction. The market is continually evolving, with new technologies and trends shaping its future. 

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Market Challenges

The fantasy sports market experiences constant fluctuations, with companies like FanDuel and DraftKings rising to billion-dollar revenues, despite initial obscurity. However, their business models faced legal challenges in 2015 due to gambling concerns. Consumer protection became a priority, impacting market growth. Gaming addiction leads to health issues, such as carpal tunnel syndrome, headaches, migraines, sleep disturbances, chronic back pain, and unhealthy eating patterns contributing to childhood obesity. Increasing awareness of these health risks is causing some gamers to limit their participation, negatively affecting the fantasy sports market’s growth during the forecast period.The Fantasy Sports Market encompasses various challenges in the mobile application sector, including Football, Baseball, Basketball, Hockey, Cricket, and more. Platforms like Reignmakers and NFT-based games are revolutionizing the industry with Virtual Reality (VR) and Augmented Reality (AR) technology. The Online Gaming Business thrives in secure payment methods, utilizing Blockchain-based apps and Fantasy chatbots. Illegal sports betting and online gambling pose challenges, but One Time Payment and Freemium models offer solutions. Internet penetration drives growth in Sports Tech, employing Software engineers, Data scientists, and Cyber security professionals. Sports viewership increases with Sponsorships and Online sports gambling on mobile devices and the Internet. Pay-per-download, Subscription services, and In-app advertisements generate revenue. Sensor Tower data reveals trends in this dynamic market.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This fantasy sports market report extensively covers market segmentation by  

Product 1.1 Fantasy soccer1.2 Fantasy baseball1.3 Fantasy basketball1.4 Fantasy football1.5 OthersPlatform 2.1 Mobile application2.2 WebsiteGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Fantasy soccer-  Fantasy soccer is a popular game where participants build teams of real-life soccer players and earn points based on their on-field statistics. This game includes eleven players in four positions. Soccer’s global appeal fuels the fantasy soccer market’s growth. Notable leagues include Draft Fantasy Football, McDonald’s FIFA World Cup Fantasy, Fantasy Premier League, and UEFA Champions League Fantasy Football. The market’s expansion is anticipated to increase during the forecast period due to benefits like unlimited pre-season transfers, capped in-season transfers, and variable transfer fees based on player performance. The growing number of viewers on digital platforms is also a positive factor.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global sports tourism market is witnessing significant growth driven by increasing fan engagement and major sporting events. Simultaneously, the sports betting market is expanding rapidly due to the legalization of sports betting in various regions and advancements in digital platforms. The sports sponsorship market is also thriving, with brands leveraging high-profile sports events to enhance visibility and consumer engagement. Together, these markets are transforming the sports industry, creating new opportunities for stakeholders and driving substantial economic impact globally.

Research Analysis

The Fantasy Sports Market is a thriving online gaming business that allows fans to engage with their favorite sports leagues and teams in a unique way. With the increasing popularity of the NFL, Premier League, IPL, and other global tournaments, the market for fantasy sports is experiencing exponential growth. High-speed internet and smartphones have made it easier than ever to access fantasy sports platforms and participate in real-time. Fantasy sports platforms offer secure payment methods, ensuring a safe and enjoyable experience for users. The latest innovations include blockchain-based apps and fantasy chatbots, providing enhanced security and convenience. However, the industry also faces challenges such as illegal sports betting and the need to comply with regulations. Sports Tech companies are at the forefront of developing new software and hiring software engineers and data scientists to analyze player statistics and create accurate projections. With the increasing internet penetration in emerging markets, the fantasy sports market is poised for even greater expansion. Baseball, Cricket, Football (rugby), and Volleyball are just a few of the many sports that have a dedicated fan base in the fantasy sports community.

Market Research Overview

Fantasy sports markets have seen explosive growth in recent years, fueled by the popularity of sports leagues and tournaments across the NFL, Premier League, IPL, and more. Fans engage with fantasy sports platforms through high-speed internet and online gaming, enjoying gameplay on user-friendly interfaces that offer social interaction and daily fantasy contests. Virtual trading in football, baseball, basketball, hockey, cricket, and other sports is a major draw, with mobile applications and virtual reality (VR) and augmented reality (AR) experiences adding to the excitement. The online gaming business is booming, with secure payment methods and blockchain-based apps ensuring safety and transparency. NFT-based games like Reignmakers and Fantasy Football are also gaining traction. However, illegal sports betting and online gambling pose challenges, with one-time payment, freemium, website, in-app purchases, advertising, and premium subscriptions all part of the business model. Sports tech companies employ software engineers, data scientists, and cyber security professionals to develop innovative solutions, while badminton, football (rugby), volleyball, and other sports also have their dedicated fan bases. Internet penetration and sports viewership continue to drive growth, with sponsorships and online sports gambling adding revenue streams. Mobile devices and the internet are essential tools for accessing these services, with pay-per-download, subscription services, and in-app advertisements providing additional revenue opportunities. Sensor Tower reports that the mobile application sector is a key driver of growth in the fantasy sports market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductFantasy SoccerFantasy BaseballFantasy BasketballFantasy FootballOthersPlatformMobile ApplicationWebsiteGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Chinese brand Desman ranked the top globally in high-end smart locks sales, three major agencies announced

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September 27, 2024

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BEIJING, Sept. 27, 2024 /PRNewswire/ — Hangzhou, Zhejiang province-based Desman (China) Machinery & Electronic Co Ltd has become the global leader in sales of high-end smart locks. Three leading domestic and international agencies jointly announced that the company has ranked the top in the segment in China and the world for three consecutive years for overall sales.

Desman held a conference about the brand’s growth momentum on Sept 25 in Beijing. At the event, three agencies, which are China Daily Hardware Technology Development Center (approved by the State Scientific and Technological Commission), consulting firm Euromonitor International, and Beijing-based market consultancy Shangpu Group, jointly certified that Desman’s high-end smart locks have ranked the top in domestic and global sales for three consecutive years. The brand was also recognized with the certification of “world-leading core technologies”.

During the event, the three agencies presented their comprehensive research results of domestic and international smart locks markets. Based on data from national market research conducted over the past three years (2021-2023), Desman’s high-end smart locks continuously ranked the top for sales in China. Besides, global market research taken over the same period showed that Desman took the top spot for sales volume and market share in the global high-end smart locks market for three straight years.

The certification of “world-leading core technologies” was a result based on extensive interviews with industry experts and an assessment of the core technologies used throughout the lifecycle of the products. This evaluation also included a comparative analysis of major smart locks companies in terms of technological advancement, market recognition, production capacity and sales.

Meanwhile, London-based World Record Certification Agency (WRCA) awarded Desman with the certification of “world’s most outstanding smart lock with ultra-high fingerprint recognition rate” (Desman GPTfinger fingerprint recognition technology). Third-party testing confirmed that the fingerprint module applying Desman’s GPTfinger technology achieved a false acceptance rate of only 0.00099% and a false rejection rate of 0.86379%.

During the event, WRCA certification officer Maksim Kriukov said Desman leads the smart locks industry with its groundbreaking GPTfinger fingerprint recognition technology. It enabled the products to embrace a new era of GPT algorithm-based recognition, and this advancement addresses the challenges faced by a small group of people with difficulties in fingerprint recognition.

In addition, the event witnessed the official signing between Desman and its partner about Desman’s fourth global joint laboratory in Phoenix, Arizona, the United States, and thus completing its global network of building four labs. Those labs are strategically located in diverse environments, including the desert climate of Phoenix; the extreme high temperature climate of Dubai, the United Arab Emirates; the typhoon-prone climate of Taiwan, China; and the moderate climate of Hangzhou, Zhejiang province, China. Together, the labs form a comprehensive testing network and enable Desman products to go through rigorous reliability tests in extreme conditions, ensuring long-term stability of the smart locks products across regions.

Zhu Zhiling, chairman and CEO of Desman, said at the event that the success that Desman has achieved is a snapshot of China’s smart locks industry, and an indication of China’s technological advancements.

“Guided by our vision of ‘technology makes life simpler’, Desman will continue to drive innovation in the smart locks industry and ensure that every household has access to advanced smart locks solutions,” Zhu said.

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SOURCE Desman (China)

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Technology

Medius named Customer Favorite by Spend Matters

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55 mins ago

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September 27, 2024

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JACKSONVILLE, Fla., Sept. 27, 2024 /PRNewswire/ — Medius, a leading provider of AP Automation and wider Spend Management solutions, today announced that it has earned three prestigious SolutionMap Customer Favorite badges from Spend Matters:

Customer Favorite – Supplier Management
Customer Favorite – Contract Lifecycle Management
Customer Favorite – eProcurement

Medius is among 93 vendors in the Fall 2024 SolutionMap and TechMatchSM procurement technology rankings. Each of the vendors in the SolutionMap process undergo rigorous functionality and capability assessment with 500+ RFI requirements across 15 procurement technology solutions with mandatory demos and impartial, anonymized customer ratings.

Vendors with the highest number of top scores from their customers’ surveys earn the Customer Favorite badges.

“We’ve designed SolutionMap to aid the practitioner so they may better understand and analyze the customer experiences, market developments and technological innovation of the myriad solution providers by process competency,” said Jason Busch, Founder and CEO of Spend Matters.

“We are excited to see Medius solutions awarded as customer favorites in so many areas of Medius’ spend management suite. We continue to deliver incremental innovations that help them save time, reduce risk, improve operations, and add more value to their procure-to-pay processes and customer clearly love our work in the independent feedback they provide through the SolutionMap process,” said Daniel Ball, Chief Product Officer at Medius.

For more information, please contact:
Dan Bird, Fight or Flight for Medius
Dan.Bird@fightflight.co.uk +44 7885 670798 / Medius@fightflight.co.uk +44 330 133 0985

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/medius/r/medius-named-customer-favorite-by-spend-matters,c4043783

 

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Technology

HORIBA India and Dumarey Group join hands to provide engineering services for the design and development of Internal Combustion Engines (ICE, H2-ICE), transmission and electrical vehicles for Indian market

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55 mins ago

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September 27, 2024

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NEW DELHI, Sept. 27, 2024 /PRNewswire/ — HORIBA India, a subsidiary of The Japanese conglomerate HORIBA, Ltd., and Dumarey Group joined hands for engineering consultancy on the design and development of Internal Combustion Engines (including hydrogen-powered applications, both dual fuel and 100% H2), transmissions and electrical vehicles for Indian customers.

HORIBA India, with a wide range of analytical and measurement solutions from its parent company HORIBA, Ltd., and Dumarey Group, with its specialization in engineering, development, integration and sale of hydrogen and diesel technologies, shall bring to the table their respective knowhow and expertise on hydrogen-powered solutions, decarbonizing solution, engineering consultancy on development projects and testing facilities for the Indian market.

An official MoU exchange took place at the Dumarey facility in Torino, Italy, in July 2024. The MoU was signed between Dr. Rajeev Gautam, Corporate Officer – HORIBA, Ltd., Japan and President – HORIBA India, and Mr. Pierpaolo Antonioli, CEO – Dumarey Propulsion Solutions and CTO Dumarey Group, for this partnership.

“The partnership will open up new horizons for development and testing of conventional and hydrogen fuelled internal combustion engines,” quotes Dr. Rajeev Gautam.

Pierpaolo Antonioli, CTO Dumarey Group, says: “This collaboration marks a significant step forward in our commitment to pioneering sustainable and innovative propulsion solutions. By combining our expertise with HORIBA’s advanced analytical capabilities, we are ready to deliver cutting-edge technologies that will drive the future of mobility in India.”

About HORIBA India

HORIBA India, a wholly owned subsidiary of The HORIBA Group, based in Kyoto, Japan, is a world leader in analytical testing and research equipment, operating across the globe since its inception in 1953.

Headquartered in New Delhi, HORIBA India started its direct operations in the country in 2006 and since then has evolved to a company of 500+ employees, with a presence in PAN India and SAARC nations.

HORIBA provides unique analysis and measurement technologies and solutions for optimizing the operation of alternative energy carriers, such as hydrogen (H2) and ammonia (NH3), by combining ‘global network’ x ‘measurement technology’ x ‘engineering’.

About Dumarey Group

The Dumarey Group is an independent provider specializing in the development, integration, and production of cutting-edge propulsion systems, including transmissions and engines. With extensive expertise in engineering, manufacturing, and technological integration, backed by proven methods and processes, Dumarey Group delivers comprehensive ‘turnkey’ solutions tailored to industry needs. Its product portfolio encompasses the design of advanced propulsion systems, state-of-the-art control technologies, transmissions for passenger and commercial vehicles, injectors, after-treatment technologies, kinetic energy recovery systems, and second-life battery solutions. The company operates across seven locations in Europe and Asia, employing around 3,000 people and generating annual revenues of approximately 1 billion euros. Founded in 1983, the Dumarey Group was known as PUNCH until September 2023.

Press contact HORIBA India
Kanika Thakur (Lead – Corporate Communications)
Mobile: +91 96060 91711
Email: kanika.thakur@horiba.com, cco.hin@horiba.com 

Press contact Dumarey Group 
Manuela Seia
Mobile: +39 348 48 30 559
Email: manuela.seia@dumarey.com

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